PENNSYLVANIA, February 22 - (c) Guidelines.--The program administrator, in consultation

with the committee, shall develop guidelines as are necessary

for the administration of the program.

(d) Evaluation.--The program administrator, in consultation

with the committee, shall evaluate the program. The program

administrator, in consultation with the committee, may initiate

the evaluation at any time during the pilot program, but must

complete the evaluation not later than five years after the

effective date of this subsection. The evaluation shall focus on

the economic and financial feasibility of the program with

respect to eligible applicants, participating colleges and

universities and purchasers of income share agreements or

related securities. The evaluation may include conducting one or

more pilot transactions. If the committee, in consultation with

the program administrator, determines that the program is

feasible, the program shall be implemented without further

action. The committee shall transmit notice of its determination

to the Legislative Reference Bureau for publication in the

Pennsylvania Bulletin.

(e) Proceeds.--Compensation for the services of the program

administrator shall be payable from the proceeds of the sale of

income share agreements or related securities. If the committee

determines that the program is not feasible or the program is

not implemented, the program administrator shall be compensated

for the program administrator's service by the Commonwealth and

reimbursed for incurred expenses.

(f) Expiration.--The program shall expire as follows:

(1) If the evaluation under subsection (d) is not

completed within the time period required under subsection

(d), the committee shall transmit notice to the Legislative

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